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Kennedys sue NAMA

Last month, NAMA moved against the Kennedy Group, the (London)Derry developer whose assets included the Ramada Portrush Hotel. The initial foreclosure was followed last week with news that NAMA succeeded in having seven additional properties placed in receivership. This afternoon, we learn that the Kennedys are suing NAMA in Belfast’s High Court. Details of the application are expected shortly and will be added as an update here.

Brothers, Alistair Kennedy and Christopher Kennedy (Chris Kennedy) are suing National Asset Loan Management Limited and IBRC; IBRC is now in special liquidation. The case reference is 13/042914 and the case is scheduled for mention next week, 14th May 2013.

We don’t know the details of the application or the remedy sought – but we will soon. But last month, Alistair Kennedy gave an interview to the BBC in the aftermath of the foreclosing on the Ramada Portrush Hotel loan, and he was not at all happy with NAMA’s actions, and seemed to believe that NAMA had acted hastily.